Park Avenue Securities LLC Invests $589,000 in Electronic Arts Inc. $EA

Park Avenue Securities LLC purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,690 shares of the game software company’s stock, valued at approximately $589,000.

Several other hedge funds have also made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts during the first quarter worth approximately $28,000. Bank of Jackson Hole Trust increased its stake in shares of Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after buying an additional 75 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Electronic Arts during the first quarter worth approximately $39,000. American National Bank & Trust purchased a new stake in shares of Electronic Arts during the first quarter worth approximately $40,000. Finally, Costello Asset Management INC purchased a new stake in shares of Electronic Arts during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the completion of the sale, the insider owned 34,731 shares of the company’s stock, valued at approximately $5,957,061.12. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stuart Canfield sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $171.06, for a total value of $171,060.00. Following the completion of the sale, the chief financial officer directly owned 15,140 shares of the company’s stock, valued at approximately $2,589,848.40. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,800 shares of company stock valued at $5,077,960. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $193.35 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a fifty day moving average price of $167.67 and a 200 day moving average price of $154.67. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $197.33. The company has a market cap of $48.38 billion, a PE ratio of 48.46, a P/E/G ratio of 2.94 and a beta of 0.75.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is currently 19.05%.

Wall Street Analysts Forecast Growth

EA has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $210.00 target price on shares of Electronic Arts in a research note on Monday, August 25th. Wells Fargo & Company set a $168.00 price target on shares of Electronic Arts and gave the company an “equal weight” rating in a research note on Monday, July 28th. Arete Research set a $192.00 price target on shares of Electronic Arts in a research note on Tuesday, August 5th. Bank of America increased their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Roth Capital upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and increased their price target for the company from $175.00 to $185.00 in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.40.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.